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Hire Purchase (HP) representative example
Based on a cash price of €41,095 with a €14,383 deposit total, borrowing €26,712 at a representative APR of 7.60% and the following:
- 58 monthly payments of: €530.82
- Final payment: €605.82
- Cash price: €41,095.00
- Customer deposit: €14,383.25
- Total deposit: €14,383.25
- Amount of credit: €26,711.75
- Total amount payable: €46,382.45
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 7.15%
- APR: 7.60%